IMARC Group’s report titled “E-Invoicing Market Report by Channel (B2B, B2C, and Others), Deployment Type (Cloud-based, On-premises), Application (Energy and Utilities, FMCG, E-Commerce, BFSI, Government, and Others), and Region 2024-2032“. The global e-invoicing market size reached US$ 13.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 60.9 Billion by 2032, exhibiting a growth rate (CAGR) of 17.7% during 2024-2032.
Factors Affecting the Growth of the E-Invoicing Industry:
- Growing Fintech Companies:
Fintech companies are revolutionizing the use of electronic invoicing by introducing creative solutions for invoicing and payments. Through cutting-edge technology, these firms develop e-invoicing systems that seamlessly integrate digital payment capabilities. Additionally, fintech entities aid businesses in managing invoicing tasks effectively by offering user-friendly interfaces and simplified processes. These platforms also include additional features such as invoice tracking, automated alerts, and real-time reporting, empowering businesses to optimize their invoicing operations. As a result, electronic invoicing simplifies transactions and acts as a valuable asset for enhancing cash flow, reducing costs, and increasing operational adaptability.
- Supportive Government Regulations:
Government regulations and initiatives are driving the adoption of e-invoicing, accelerating the transition from traditional paper invoicing to digital methods. Authorities recognize the benefits of e-invoicing in reducing administrative burdens, combating tax evasion, and improving transparency in business transactions. To support businesses in embracing e-invoicing solutions, governments are establishing clear guidelines, standards, and compliance frameworks. Additionally, government-led programs such as e-procurement schemes and interoperability platforms are actively promoting the use of e-invoicing by providing infrastructure and incentives for companies to digitize their invoicing processes.
- Technological Advancements:
The evolution of technology, including cloud computing, artificial intelligence (AI), and blockchain, is driving innovation in e-invoicing solutions. Cloud-based platforms for e-invoicing offer flexibility, accessibility, and ease of use, allowing businesses to access invoicing data from anywhere at any time. AI-powered features enable intelligent data extraction, invoice validation, and anomaly detection, improving accuracy and efficiency in managing invoices. Moreover, blockchain technology enhances security, transparency, and permanency in e-invoicing by creating tamper-proof transaction records. These technological advancements enhance the reliability and security of e-invoicing processes while introducing new functionalities like smart contracts and instant settlement. As a result, organizations can streamline their invoicing procedures, reduce errors, and mitigate fraud risks, leading to wider adoption of e-invoicing across various industries.
Leading Companies Operating in the Global E-Invoicing Industry:
- Araize Inc.
- Basware Oyj
- Brightpearl
- Cegedim (FCB SAS)
- Comarch SA
- Coupa Software Incorporated
- International Business Machines Corporation
- Nipendo Ltd.
- Paysimple Inc. (EverCommerce)
- SAP Ariba (SAP SE)
- The Sage Group Plc
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/e-invoicing-market/requestsample
E-Invoicing Market Report Segmentation:
By Channel:
- B2B
- B2C
- Others
B2C represents the largest segment due to the widespread adoption of electronic invoicing among businesses catering directly to consumers, such as retailers and service providers.
By Deployment Type:
- Cloud-based
- On-premises
Cloud-based accounts for the largest market share due to its flexibility, scalability, and cost-effectiveness, appealing to businesses of all sizes.
By Application:
- Energy and Utilities
- FMCG
- E-Commerce
- BFSI
- Government
- Others
E-commerce dominates the market due to the digitalization of retail and the increasing volume of online transactions is escalating the demand for electronic invoicing solutions.
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Global E-Invoicing Market Trends:
At present, businesses can seamlessly integrate electronic invoicing into their supply chain management systems to improve control and efficiency throughout the procurement process. This integration enables companies to optimize inventory, reduce lead times, and strengthen relationships with suppliers. Cutting-edge technologies such as blockchain and artificial intelligence further enhance electronic invoicing processes. For instance, blockchain ensures secure transactions, while AI automates invoice validation and reconciliation. Moreover, electronic invoicing aligns with corporate sustainability goals by reducing paper consumption and carbon emissions associated with traditional invoicing methods.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145